Some excepts:Kazakhstan ISR production reached 36mlbs U(3)O(8)...

Some excepts:

Kazakhstan ISR production reached 36mlbs U(3)O(8) in 2009 up 62% from 2008 levels (22mlbs) and is forecast to reach 47mlbs in 2010. With low cost production forecast to rise to 78mlbspa U3O8 by 2018, Kazakhstan's mine supply growth is expected to exert further downward pressure on the global sector cash cost curve.


Uranium One reported average total cash cost at its Kazakhstan operations of US$16/lb during 2009, compared with US$14/lb in 2008. Total cash costs of US$17/lb were reported 1Q10.


"Uranium mine supply growth in Kazakhstan threatens to weigh down the sector cost curve in the short to medium term. Production growth from Kazakhstan has been phenomenal in recent years with production reaching 36mlbs U(3)O(8) in 2009 up 62% from 2008 levels of 22mlbs. 2010 production is forecast to reach 47mlb. Production is low cost and frequently below US$20/lb. As evident earlier in the year, a floor price of around US$40/lb seems to be holding well but there is no significant utility demand to drive the market up. Timing of purchases from China continues to be the main unknown and has the potential to influence short term price trends," John Wilson, Managing Director of RCR said.



Cheers, Skip